Nikkei Asia300 Index little changed as Trump woes spook investors

HONG KONG (Nikkei Markets) -- Asian stocks outside of Japan ended little changed on Wednesday as anxiety over the fallout from the U.S. President's reported interference in a federal investigation weighed on risk assets.

The Nikkei Asia300 Index ended 0.02% higher at 1,221.26. Safe-haven assets such as the Japanese yen and the gold advanced after reports of President Donald Trump interfering in a federal investigation raised concerns that his economic agenda may take a back seat. Trump had in February asked former Federal Bureau of Investigation Director James Comey to close an investigation into Michael Flynn's links with Russia, the New York Times reported, citing a memo written by Comey. The news comes a week after Trump abruptly dismissed the FBI chief and amid reports the president leaked sensitive information to a Russian diplomat.

China's central bank and the Hong Kong Monetary Authority on Tuesday approved a bond link between the city and the mainland, providing overseas investors access to China's $9.4 trillion bond market. In the initial phase, only overseas and Hong Kong investors will be able to trade in Chinese bonds, according to the joint announcement. Mainland investors will gain access to Hong Kong bonds on a later date.

Data showed Malaysia's consumer prices rose at a slower-than-expected pace in April. The consumer price index rose 4.4% in the month, according to a statement from the Department of Statistics. That compares to a median 4.5% increase predicted by nine economists in a Nikkei Markets poll and March's 5.1% year-on-year gain.

Neighboring city-state Singapore's 22-stock gauge added 0.2%. Singapore's core exports declined unexpectedly in April after five straight months of growth, hurt by a sharp decline in the volatile pharmaceutical segment. According to trade agency International Enterprise Singapore, the city-state's non-oil domestic exports fell 0.7% in April from a year ago to a seasonally adjusted 13.6 billion Singapore dollars ($9.75 billion), a reversal from the double-digit expansion seen in February and March.

The country index for South Korea rose 0.6%, while Taiwan's gauge shed 0.1%.

--Nikkei Markets is a real-time financial news service for South East Asia's markets published by Nikkei NewsRise Asia Pte Ltd, a Nikkei and NewsRise joint venture company. Nikkei Markets provides wide companies coverage in the region, including the Nikkei's Asia300 companies.